Isle of Man licensed King Gaming has had its license suspended by the region’s local Gambling Supervision Commission.
In a short statement posted on the Isle of Man government website, the regulator stated that it had become aware of an ongoing criminal investigation into companies which are regulated to it. As a result, it has taken the decision to suspend the licences of King Gaming Ltd and Dalmine Ltd pending a regulatory review.
The regulator stated that this step was taken in line with its regulatory objectives and that it will assist its partner agencies in the matter. Due to the ongoing nature of the criminal investigation, no further comment was available at this time. King Gaming Ltd is the B2C arm of the company, while Dalmine Ltd was set up to provide B2B gaming and is a sub-license of King.
King Gaming has become a prominent name on the Isle of Man since the Asia-owned group arrived in the crown dependency only a few years ago. The company recently began work on its new technology campus in the capital city of Douglas in what the media called the ‘largest ever single private investment on the Isle of Man’. It also had plans to relocate over a hundred employees to the island from Asia.
According to reports on a local news forum, the suspension of the license was preceded by an operation of the Isle of Man Constabulary that allegedly involved armed police being deployed and a number of individuals being detained.
